Hello Community :)
Sorry that I didn't get to do my introduction yet, but I will get to that latter.
It's interesting to see how people react in "time of crisis", like the one crypto world is having right now.
I think that this quote describes it well:
In my opinion this is not a time to panic, but rather people that still didn't get to join crypto market now will have a chance to do it at the better price.
Most likely amendments to this law, is the reason of all that panic:
https://www.congress.gov/bill/115th-congress/senate-bill/1241/text#toc-idea0e9489fc8f46379f95bb56c8bbbda5
I am no law expert, but to me it looks like that you will have to report everything, not only your BC wallets, but also credit cards and other stuff that has more than $10,000 on it.
“(7) ‘prepaid access device’ means an electronic device or vehicle, such as a card, plate, code, number, electronic serial number, mobile identification number, personal identification number, or other instrument, that provides a portal to funds or the value of funds that have been paid in advance and can be retrievable and transferable at some point in the future.”.
Certainly, if you want it's much easier to hide your crypto keys and use it latter, that is easier compared to credit cards and cash. And imagine all the effort that someone would have to put in to discover that you are actually holding crypto on some portal, or in your head, it would be ridiculously hard.
So to conclude don't panic, we have largest car service that doesn't really own cars (UBER), largest "real estate company" that doesn't own any housing (AirBnB), companies like AliBaba group that has crazy goods sales but doesn't produce or distributes any, and we will also live in a world where decentralized currency is a normal thing.
Am quite interested to read, what do people think caused all this panic?
IF YOU'RE GONNA DIE
DIE WITH YOUR GPUS ON
IF YOU'RE GONNA MINE! WELL STICK AROUND
GONNA CRY? JUST MOVE ALONGGggg
That's the spirit :D
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